Royal Canadian Mint sells digital payments platform to Toronto startup

TORONTO -- The Royal Canadian Mint is ending its experiment with digital payments, selling off its MintChip platform to Toronto-based financial startup nanoPay.

See Full Article

The government agency developed MintChip as a secure way to send and spend money online, launching the project in April 2012 and showing off its first implementation in 2014.

Consumers could use MintChip with a mobile device at a cash register or send money with a text message, email or potentially a social media message.

NanoPay says the platform is now live and processing transactions, and will launch commercially in the coming weeks.

The company said it is working to integrate MintChip with banks and retailers.

Companies including Apple and PayPal have launched their own digital payment systems in the years since MintChip was first announced, but the available options are fragmented between different devices, retailers, and banks.



Advertisements

Latest Economic News

  • Who are the 8 richest people? All men, mostly Americans

    Economic CTV News
    DAVOS, Switzerland -- The eight individuals who own as much as half of the rest of the planet are all men, and have largely made their fortunes in technology. Most are American, with one European and one Mexican in the mix. Source
  • German ministers reject Trump remarks on car tariffs

    Economic CTV News
    BERLIN -- Senior German officials reacted with surprise and defiance Monday to comments made by President-elect Donald Trump, who said in an interview that NATO was "obsolete" and threatened Germany's automakers with hefty import taxes. Source
  • Hope for the best, plan for the worst when budgeting for a home reno

    Economic CTV News
    TORONTO -- Ali Bisram has less-than-fond memories of her basement bathroom renovation project. "It was supposed to be around $2,500 to $3,000. We just wanted to replace the toilet and the vanity and put in a smaller shower, a little corner unit," says Bisram, a 35-year-old government administrative co-ordinator in Brampton, Ont. Source
  • Samsung Group chief faces arrest, accused of paying millions in bribes

    Economic CBC News
    South Korea's special prosecutors' office said it will seek a warrant to arrest the head of Samsung Group, the country's biggest conglomerate, as a corruption scandal engulfing President Park Geun-hye escalated on Monday. Samsung Group chief Jay Y. Source
  • Asian stocks drop amid Brexit worries

    Economic CTV News
    TOKYO - Asian shares were mostly lower Monday morning amid worries about Britain's exit from the European Union, and Takata stock dropped in Tokyo after the air bag maker agreed to a guilty plea in the U.S. Source
  • South Korea seeks arrest of Samsung scion in graft scandal

    Economic CTV News
    SEOUL, Korea, Republic Of -- In a departure from the leniency typically given South Korean big businesses, prosecutors on Monday requested the arrest of the de facto head of Samsung Electronics, the country's most valuable company, in an influence-peddling scandal that has toppled the country's president. Source
  • South Korean prosecutors request arrest of Samsung heir as suspect in bribery case

    Economic CTV News
    SEOUL, South Korea -- Prosecutors have requested the arrest of the Samsung heir Lee Jae-yong as a bribery suspect in the influence-peddling scandal that led to the impeachment of South Korea's president. The special prosecutors office said Monday that it requested an arrest warrant for Lee, the 48-year-old Samsung Electronics vice chairman. Source
  • Parti Quebecois leader supports a 'Buy Quebecois Act'

    Economic CTV News
    QUEBEC -- The leader of the Parti Quebecois says he would quickly adopt a "Buy Quebecois Act" if he were to become premier. Jean-Francois Lisee says the act would be inspired by the idea of a Buy American law in the United States and would stimulate Quebec's economy by encouraging the purchase of local products. Source
  • Two Canadian billionaires are as rich as nearly 1/3 of Canada: report

    Economic CTV News
    New economic analysis suggests that two Canadian billionaires own the same amount of wealth as nearly one-third of all Canadians. On a global scale, about half of the planet’s population owns the same amount of wealth as the world’s eight richest businessmen, including Bill Gates, Warren Buffet and Facebook founder Mark Zuckerberg. Source
  • Canada must remain nimble as it braces for Trump era: feds' economic adviser

    Economic CTV News
    OTTAWA -- The head of the Trudeau government's influential council of economic advisers recommends Ottawa stay agile, just in case Donald Trump delivers on vows that could have severe implications for Canada. Dominic Barton, the global managing director of consulting firm McKinsey & Co. Source